Petroleos Mexicanos is negotiating reduced rig rates with all of its providers after the state-owned oil producer posted a ninth straight quarterly loss on slumping crude prices. Pemex is in talks with oil service and jack-up rig providers to reduce daily rates after the board approved cutting more than $4 billion from its 2015 budget last week. The Mexico City-based company will seek cuts that will probably be less than the 35 percent to 40 percent reductions recommended by consulting firm IHS Inc., said Pemex’s exploration and production director. “We have talked with service companies and agreed that actions need to be taken in order to reduce the effect of the impact of the oil price reductions,” E&P Head Gustavo Hernandez said Friday on an earnings conference call. Pemex is analyzing a series of actions to reduce spending after reporting a quarterly net loss of $7.75 billion […]